Emerging Markets

Russia lets ruble slide more
Russia allows its currency to fall to 11-year low against the U.S. dollar, as central bank devalues the currency for fourth time in less than one week.  Russia has allowed 16 ruble mini-devaluations since early November.
• Russia proposes European gas plan
 
asia markets
U.S. losses weigh heavily
Asian equities take negative cue from Wall Street's big loss in the previous session. Korea's Kospi Composite loses 4.1%, with auto and resource stocks among biggest losers.
• Rio Tinto Q4 iron ore output drops 18%, bauxite up 19%
 • For business news in Chinese, see Chinese.WSJ.com
 

2008* IN THE EMERGING MARKETS
Best-performing markets
MSCI Brazil 11%
MSCI Pakistan 9%
MSCI Chile 9%
Worst-performing markets
MSCI Morocco -7%
MSCI Hungary -5%
MSCI Taiwan -3.4%
* based on the MSCI Emerging Markets indexes in dollar terms, as of Jan. 9
 
This Week in China
Regulation furor bad sign for Hong Kong
Hong Kong regulators face a rearguard action in their attempts to control insider trading, writes Craig Stephen.
 
investing
Hoping for recovery in 2009
International stock holdings, particularly in emerging markets, took a big hit in 2008, but fund managers have got their eyes on a number of beaten-down stocks.
 • Emerging markets'  year ahead  
Interest rates
Turkey cuts, lira soars
Turkey's currency strengthens after central bank slashes its benchmark interest rate by 200 basis points to 13%, saying domestic economic slowdown has intensified. 

technology
 Auditor disavows reports
In wake of revelation of $1 billion fraud by ex-CEO, says analyses can't be relied on. Satyam moving to restate results.
• Finger-pointing at Satyam
 • Satyam fallout hits India's young tech workers  

Politics
Latin America's Obama hopes
Region hopes U.S. president-elect will strengthen relationship and find solutions to lingering economic and social issues

economy
 China is no. 3 in the world
 Revised growth figures indicate nation's economic growth may have surpassed Germany's. Chinese economy expanded a revised 13% in 2007 from a year earlier, up from an original estimate of 11.9%.

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